Affable AI a Singapore-based martech startup raised $2Million in funding, the startup will be using the freshly raised funds in influencer marketing platform and to expand in international markets like the USA.
Prime Venture Partners, Decacorn Capital, and SGInnovate participated in this round.
Brief about the startup
Affable AI is a self service is AI-driven SaaS platform, it helps brands and agencies run high impact influencer marketing campaigns, the platform is currently used by 45 top brands and agencies including Huawei, Wipro, Pomelo, Fresh, Omnicom, Dentsu, and We Communications. The company tracks more than three million influencers across Instagram, Facebook, YouTube, and TikTok. The startup is currently working with 20 remote employees across different geographies.
Affable is equipped with advanced machine learning and big data analytics to help brands find influencers, manage and measure campaign performance. Affable provides brands with data-driven insights and analytics to help streamline their micro-influencer marketing process.
CEO and Co-founder of Affable.ai Nisarg Shah said “We see great opportunity in working with brands to enable data driven influencer marketing campaigns. The industry-leading brands and agencies we work with reinforce our belief in the need for analytics to streamline the micro-influencer marketing process.”
Adding to his statement he said “Our new investor Prime Venture Partners brings a lot of experience in growing global SaaS platforms, we are excited to work with Prime by leveraging its expertise and strong network it holds during our next growth phase, at the same time, participation from our existing investors is a great endorsement for us”.
Affable was founded in 2017 by Nisrag and Swayam Narain, the startup was the part of the Entrepreneur First Cohort. The startup helps brands and agencies streamline their influencer strategies throughout the planning, discovery, activation, and reporting phases.
The Managing Partner of Prime Venture Partners, Shripati Acharya said “Data-driven analytics based marketing is highly needed in the influencer marketing ecosystem, which has seen exponential growth in the last 3-5 years which is a new and upcoming marketing medium. We believe that influencer marketing will become a mainstream marketing medium for brands with a significant amount of budget allocation” .
The statement shared by Prime Venture Partners added that as Southeast Asia is a mobile-first region with its youthful demography and growing popularity of social platforms, it has become an ideal ground for influencer marketing to flourish, and the market is estimated to reach $2.59 billion by 2024.
It stated, traditionally, the influencer marketing process involves finding influencers, vetting audience quality, tracking and measuring results manually. Affable has made this process automated and has also intelligent by building proprietary algorithms around its data infrastructure. It also uses advanced ML and image processing models for accurate influencer-brand mapping and measuring campaign ROIs.
The platform detects fake followers, discovers follower interests and classifies social media users based on brands, fan pages etc. It indexes all the social media users and identifies potential influencers that a brand could work with.
Debneel Mukherjee, Managing Partner, Decacorn Capital said, “As the lead investor in Affable’s seed round, Decacorn believes that “prime-time” has arrived in the AI-driven influencer marketing space to effectively monetise the hyper social behavioural changes in the post-millennials. We are glad to have worked closely with the Affable team over these past two years in scaling their business from a product-market fit stage to a rapidly growing six-digit MRR as on date. In order to help Affable scale beyond Asia into the holy grail of the USA we have ponied up in Affable to the fullest extent.”